Chile lithium miner SQM reaches supply deal with Hyundai, Kia

SANTIAGO (Reuters) -Chilean lithium miner SQM, the world’s second-largest lithium producer, said on Monday it had reached a long-term supply deal with Hyundai and Kia to provide the carmakers with the white metal, key for the production of electric vehicle batteries. Hyundai and Kia will “secure a portion of (their) future lithium hydroxide supply from SQM,” the miner, which has previously landed supply deals with Ford Motors and battery maker LG Energy, said in a … Read more…

Tesla kicks off legal fight to reinstate Musk’s pay

By Tom Hals WILMINGTON, Delaware (Reuters) – Tesla began its fight for legal recognition of a shareholder vote favoring Elon Musk’s record compensation, telling a Delaware judge that it “significantly impacts” her ruling voiding the pay, according to a letter made public on Monday. Tesla wrote to Chancellor Kathaleen McCormick that the parties in the pay package case should now lay out their legal interpretations of Thursday’s ratification of Musk’s pay, rather than moving ahead … Read more…

OpenAI CEO says company could become benefit corporation- The Information

(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that OpenAI’s nonprofit board doesn’t control, The Information reported on Friday. One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the report said, citing a person who heard the comments. OpenAI did not immediately respond to Reuters request for comment. (Reporting … Read more…

Exclusive-Boeing tells suppliers it is slowing 737 output goal by 3 months, sources say

By Allison Lampert and Tim Hepher (Reuters) -Boeing has told suppliers it is delaying a key production milestone for its 737 jet family by three months, two industry sources said, as it continues to struggle with a crisis that is hurting output. A new Boeing supplier schedule communicated to the industry calls for 737 output to reach 42 a month in September, compared with a previous target of reaching that output in June, the sources … Read more…

Coca-Cola, Starbucks file to extend trademarks in Russia, newspaper reports

(Reuters) -Coca-Cola and Starbucks have applied to re-register their trademarks in Russia to protect their intellectual property rights after exiting in response to Moscow’s invasion of Ukraine in 2022, domestic business newspaper Vedomosti reported. Coca-Cola filed three trademark applications in April, Vedomosti said, citing documents on the website of Russian intellectual property agency Rospatent. “Intellectual property assets are of high value and importance to the Coca-Cola Company, and we continuously take steps to enhance and … Read more…

How Apple used Google’s help to train its AI models

By Max A. Cherney SAN FRANCISCO (Reuters) – On stage on Monday CEO Tim Cook’s Apple announced a splashy deal with OpenAI to include its powerful artificial intelligence model as a part of its voice assistant, Siri. But in the fine print of a technical document Apple published after the event, the company makes clear that Alphabet’s Google has emerged as another winner in the Cupertino, California, company’s quest to catch up in AI. To … Read more…

Google loses bid to end US antitrust case over digital advertising

By Jody Godoy (Reuters) – Alphabet’s Google must face trial on U.S. antitrust enforcers’ claim that the internet search juggernaut illegally dominates the online advertising technology market, a federal judge ruled on Friday. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, denied Google’s motion during a hearing, according to court records. Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and … Read more…

Broadcom soars as demand for AI chips power forecast raise

By Arsheeya Bajwa (Reuters) – Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for companies such as Broadcom that provide chips and networking tools to support these intensive applications. Broadcom, whose shares have risen 76% in the past 12 … Read more…

Tesla reported to police in Sweden over alleged illegal electrical work

COPENHAGEN (Reuters) – U.S. electric vehicle manufacturer Tesla has been reported to police in Sweden accused of performing electrical installation work without the necessary registration, the Swedish Electricians’ Union said on Wednesday. There are already tense relations between Tesla and unions in Sweden, where the company has faced prolonged industrial action and its mechanics have been on strike since Oct. 27. Tesla was not immediately available for comment when contacted by Reuters. “There is evidence … Read more…

Citron Research closes GameStop short position

By Pranav Kashyap and Medha Singh (Reuters) – Citron Research no longer has a short position in retail traders’ favorite GameStop, the short seller said on X.com on Wednesday, days after taking a bearish position in the company. “It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult like shareholders,” Citron said in the tweet. … Read more…